SUMA Management Corp 4
4 · SUMA Acquisition Corp · Filed Mar 16, 2026
Research Summary
AI-generated summary of this filing
SUMA CEO Naseem Saloojee Buys 316,875 Shares
What Happened Naseem Saloojee, Chief Executive Officer and Chairman of SUMA Acquisition Corp (SUMA), is reported on a Form 4 as associated with the acquisition of 316,875 Class A ordinary shares at $10.00 per share, for a total of $3,168,750. The filing lists the transaction as a purchase (code P) dated March 12, 2026. This purchase is reported via sponsor-held private placement units rather than shown as a straightforward personal open‑market buy.
Key Details
- Transaction date: 2026-03-12; Form 4 filed: 2026-03-16. (Filing occurred four calendar days after the trade; confirm timeliness relative to the 2-business-day rule.)
- Price and amount: 316,875 shares at $10.00 each; total $3,168,750.
- Shares owned after transaction: Filing reports the 316,875 shares acquired; the Form 4 does not state an aggregated total of all shares beneficially owned by Mr. Saloojee.
- Footnote F1: The shares represent interests underlying private placement units held directly by SUMA Sponsor LP (141,922) and SUMA Canada II Sponsor LP (174,953) acquired under Private Placement Units Purchase Agreements. Does not include 5,750,000 Class B founder shares that convert upon a business combination.
- Footnote F2: Mr. Saloojee is director of SUMA Management Corporation (general partner of the Sponsors) and thus may be deemed to have voting/investment discretion over the sponsor-held securities; he disclaims beneficial ownership except to any pecuniary interest.
- Transaction code: P = Purchase (open market or private purchase).
Context This filing reflects sponsor-related purchases of private placement units tied to SUMA’s SPAC sponsor entities, not necessarily a direct personal cash purchase by the CEO. Purchases can be a bullish signal, but in SPAC structures sponsor transactions and founder-share mechanics often reflect deal and capital-raising arrangements rather than pure insider sentiment.
Insider Transaction Report
- Purchase
Class A Ordinary Shares
[F1][F2]2026-03-12$10.00/sh+316,875$3,168,750→ 316,875 total(indirect: See footnote)
Footnotes (2)
- [F1]Represents (1) shares underlying the private placement units (each unit consisting of one Class A ordinary share and one-fifth of one right, each right exercisable to purchase one Class A ordinary share) directly held by SUMA Sponsor LP in the amount of 141,922 and SUMA Canada II Sponsor LP in the amount of 174,953 (the "Sponsors"), and which were acquired pursuant to Private Placement Units Purchase Agreements by and between the Sponsors and SUMA Acquisition Corporation (the "Issuer"). Does not include 5,750,000 Class B ordinary shares, which shares will automatically convert into Class A ordinary shares at the time of the Issuer's initial business combination on a one-for-one basis, or at any time prior to the Issuer's initial business combination, at the option of the holder, subject to adjustment as described under the heading "Description of Securities--Founder Shares" in the Issuer's registration statement on Form S-1 (File No. 333-292831).
- [F2]Naseem Saloojee, the Chief Executive Officer and Chairman of Issuer, is the director of SUMA Management Corporation, which is the general partner of SUMA Sponsor LP, SUMA Canada Sponsor LP, and SUMA Canada II Sponsor LP, and has voting and investment discretion with respect to the securities held by the Sponsor. As such, Mr. Saloojee may be deemed to possess beneficial ownership of the securities held directly by the Sponsors. Mr. Saloojee disclaims any beneficial ownership of the reported securities other than to the extent of any pecuniary interest he may have therein, directly or indirectly.